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Odaseva raises $25 million to speed up enterprise belief within the cloud

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Sturdy momentum within the knowledge safety market fuels an expanded imaginative and prescient

SAN FRANCISCO, CALIFORNIA, October 27, 2020 – Odaseva, the main Enterprise Cloud Belief Platform for organizations with business-critical cloud deployments, right now introduced a Collection B funding spherical of $25 million, bringing the corporate’s whole funding to $40 million.

Odaseva brand

The spherical, led by Eight Roads Ventures with new investor F-Prime Capital in addition to participation from present traders Partech, Salesforce Ventures, and Serena, will speed up Odaseva’s robust development within the enterprise market, constructing on momentum in North America and internationally, whereas paving the way in which for an expanded give attention to probably the most essential unsolved issues in enterprise expertise.

“It’s been greater than 20 years, and cloud adoption continues to be in its early days,” stated Odaseva CEO Sovan Bin. “Suppliers have made main strides in constructing belief with enterprise clients, and Odaseva is happy to be a part of that transformation. Now could be the time for us to increase our imaginative and prescient as we allow large-scale clients to speed up their shift to the cloud.”

For the reason that firm launched in 2012, Odaseva has broadened the scope of information safety for large-scale Salesforce clients from guaranteeing enterprise continuity to driving operational agility. Clients use Odaseva’s expertise for all the pieces from backing up and archiving knowledge to making sure knowledge privateness to replicating and leveraging knowledge inside Facilities of Excellence.

Thus far, Odaseva’s strategic focus and powerful execution have led to exceptional success. The corporate has seen three consecutive years of 100% income development, pushed by its penetration of the enterprise market in North America and internationally.

Over the previous two years, Odaseva doubled its headcount and added main enterprises comparable to Dropbox, Boston Scientific, and Manulife to a buyer listing that features Heineken, Schneider Electrical, Robert Half, Toyota, and lots of different Fortune World 500 firms—all regardless of the challenges of working in a worldwide pandemic.

“Our partnership with Odaseva has been instrumental in serving to our firm understand the total worth of our funding in Salesforce as a mission-critical enterprise platform,” stated Jonathan Cipryk, Assistant Vice President of Salesforce Engineering at Manulife, a worldwide monetary providers firm. “Now, we will transfer knowledge fluidly between manufacturing environments, non-production environments, and sandboxes. We will anonymize knowledge. What started with backup and restore has now expanded to alter how we take into consideration our knowledge.”

The brand new spherical of funding will assist a number of key development initiatives for the corporate, together with:

  • Additional growth of the depth and breadth of the core Enterprise Cloud Belief Platform providing, supporting platforms together with Salesforce, Microsoft 365, and extra
  • Accelerated hiring within the firm’s San Francisco, Sydney, and Paris places of work
  • Elevated funding in Odaseva’s robust ecosystem of customers and companions, extending Odaseva’s long-standing dedication to creating and instructing the perfect practices of enterprise cloud knowledge safety

“Cloud adoption is going through new challenges as enterprises demand extra assurance round compliance, operational dangers, and safety,” stated Michael Treskow, Accomplice at Eight Roads Ventures. “Odaseva is offering the platform enterprises want to extend their operational agility, particularly organizations in extremely regulated industries like banking, insurance coverage, and healthcare.”

“The Odaseva crew began their journey targeted on a significant drawback for large-scale Salesforce clients, serving to them by their transfer to the cloud,” stated Reza Malekzadeh, Accomplice at Partech. “By the journey they demonstrated their technical management and unimaginable means to execute by constructing on their imaginative and prescient past that preliminary focus market. We’re very excited to see this new milestone on their journey to changing into a vital knowledge platform for the cloud.”

“We really feel proud and lucky to have the assist of our enterprise companions and clients as we open a brand new chapter in our historical past,” Sovan Bin stated. “Our most essential work lies forward.”

“Because the earliest investor in Odaseva, we’re completely satisfied to see Sovan’s imaginative and prescient unfold, because the product turns into an increasing number of mission vital to the Enterprise, fueling the corporate’s development within the US, Europe and APAC. With the market potential, development profile and unit economics, it’s no marvel that Odaseva is likely one of the only a few firms who managed to draw a US investor this 12 months,” famous Marie Brayer, Accomplice at Serena.

About Odaseva
Odaseva companions with the most important and most subtle organizations on the earth to speed up their belief in business-critical cloud purposes. Fortune World 500 trade leaders use Odaseva expertise to again up and restore knowledge, guarantee knowledge privateness and regulatory compliance, and use knowledge to drive operational agility. Engineered for Salesforce by Salesforce specialists and endorsed by Salesforce Ventures, Odaseva is trusted by 30+ million customers and has obtained 100% five-star critiques over eight years on the Salesforce AppExchange.

About Eight Roads Ventures
Eight Roads Ventures is a worldwide enterprise capital agency managing $6bn of property throughout places of work within the UK, China, India, Japan, Singapore, and the US. Our 50-year historical past of investing consists of partnerships with over 300 firms comparable to Alibaba, Appsflyer, BlackDuck, Chewy, Devoted Well being, Flywire, Icertis, iPipeline, Kensho, Letgo, Made.com, Neo4j, Nuance, Paidy, Ping Identification, Prosper, Toast, Wallapop, WuXi PharmaTech, and Xoom.

About Salesforce Ventures
Salesforce is the worldwide chief in Buyer Relationship Administration (CRM), bringing firms nearer to their clients within the digital age. Salesforce Ventures, the worldwide funding arm of Salesforce, invests within the subsequent technology of enterprise expertise that extends the ability of the Salesforce Platform. Salesforce Ventures is constructing the world’s largest ecosystem of enterprise cloud firms and lengthening that expertise to clients. Portfolio firms obtain funding, strategic advisory, and working assist, and may simply be a part of Pledge 1% to make giving again a part of their enterprise mannequin. Salesforce Ventures has invested in additional than 400 firms, together with DocuSign, GoCardless, Guild Training, nCino, Snowflake, Twilio, Zoom, and others throughout 22 nations since 2009. For extra data, please go to www.salesforce.com/ventures.

About Serena
Based in 2008 by entrepreneurs for entrepreneurs, Serena invests in daring ventures and gives them with an unequalled stage of experience and operational assist. In simply ten years, the agency has already contributed to the emergence of many success tales and has at present 40 handpicked startups in its portfolio comparable to Dataiku, Evaneos, Malt, IbanFirst, CybelAngel, or Lifen.

About Partech
With a portfolio of just about 180 firms unfold throughout 30 nations in Europe, the US, Africa, and Asia, Partech has been one of many main worldwide traders serving to visionary founders for nearly 40 years. The Partech crew – made up of each former entrepreneurs and executives from 15 totally different nations – brings capital, expertise, strategic assist, and networks to entrepreneurs at each stage of growth: seed, enterprise, and development. With over €1.5B below administration, Partech invests from €200Ok to €50M in B2B and B2C applied sciences reshaping industries. Firms backed by Partech have accomplished greater than 21 IPOs and greater than 50 strategic M&A transactions valued over $100M. For extra data go to partechparners.com and comply with @partechpartners.

About F-Prime Capital
F-Prime Capital is a worldwide enterprise capital agency investing in healthcare and expertise. For the previous 50 years, our impartial enterprise capital group has had the privilege of backing nice entrepreneurs constructing groundbreaking firms. With over two billion {dollars} below administration and a worldwide portfolio of greater than 190 firms, we champion these devoted to creating constructive change on the earth. F-Prime is headquartered in Cambridge, MA, with places of work in London, UK and San Francisco, CA. For extra data, please go to fprimecapital.com and comply with us on Twitter and LinkedIn.

Media contact:
Remy Claret
remy.claret@odaseva.com

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